When a veteran of CNA joined Berkshire Hathaway Specialty Insurance to lead the new venture’s professional liability division last week, the news did not receive the press that the followed the first four recruits to insurance organization.
Executive SummaryPeter Eastwood, the president of Berkshire Hathaway Specialty Insurance revealed plans for the newest entrant into the U.S E&S market and its progress to date during a recent Carrier Management interview. At the start of week No. 7, the startup already had business on the books and 40 professionals in five offices, he said, framing long-term goals with no mention of any desire to surpass the company he left behind—American International Group.
But that initial media attention is one factor that has helped the new unit quietly build out its ranks 10-fold in the last six weeks, according to Berkshire Hathaway Specialty Insurance’s President Peter Eastwood, who said the buzz fueled outreach from people around the industry interested in joining the team.
Eastwood, who sat down with Carrier Management a day after Dan Fortin joined his team from CNA, said that less than half of the 40 professionals now on board followed him and the first three employees— Sanjay Godhwani, David Bresnahan and David Fields—from American International Group.